I took out a Lowe’s credit card because of the 5% discount on all purchases and when I did last fall I got 10% for opening it.

i have been remodeling the basement and picked up a bath vanity, sink, faucet etc and used the Lowe’s card. I just got the bill, was paying for it and noticed the terms.....holy shit 26.99% APR and a up to 38.00 late fee.

Bill was for 420.00. If I paid the 25.00 minimum the interest would add 30.00 to the bill making it more that it was originally.

This might be something you guys know but I don’t have any credit card balances. We use one card for miles and points.

This should be illegal holy fuck.

If any of you guys are in deep with cards I suggest you really try hard to pay em off and not use them. 

Just a public service announcement by Mainecat...lol

 

Edited April 2, 20187 yr by Mainecat

If I need to exchange money I send my dad. No fees for him being ex employee.

Prime rate's going up April 10th. It Means economy is doing great.

1 minute ago, XCR1250 said:

Prime rate's going up April 10th. It Means economy is doing great.

Thanks Donald. 

Inflation....yeah that’s gonna work out.

1 hour ago, DISABLED DAVE said:

Never use a bank card out of Canada. No reason too.

How do you get cash without a bank card?

42 minutes ago, revkevsdi said:

How do you get cash without a bank card?

thats not a serious question is it?

1 hour ago, Mainecat said:

Inflation....yeah that’s gonna work out.

Would you prefer the economy goes stagnant to keep the rate lower?

3 hours ago, revkevsdi said:

I meant to mention bank cards. Not sure if I did or not.  But our bank has just changed the exchange rate on atm machine. 

They charge their exchange rate plus 3%. + a percentage on whatever atm fee there is.  

I just skimmed the letter but if they had 1/2 point spread on the exchange  then they make 3-1/2%  in Canada unless it’s one of 5 major currencies they will exchange it to US dollars first the. To Canadian.   So if you are getting $100.00 worth of Argentinian pesos from a bank machine. They could conceivably  be taking $9.00 in fees. 

Which is another reason to use your credit card as much as possible. 

While I’m in bank bitching mode. They do something else to skim from us. I cashed out a cashable gic to buy some property for our new business. They said it will take up 3 days to settle. I gave instructions to have the funds transferred to our other bank on Thursday if they were available. They didn’t show up until today. One full week to get access to a cashable gic.

Think of the banks having use of everyone’s money interest free for 5 days.  They probably use that as. Float against the credit card debt. 

Gic is pretty much interest free for 365 days.  

13 hours ago, ArcticCrusher said:

Gic is pretty much interest free for 365 days.  

Pretty much. But when you know you’ll need the money on short notice and don’t trust the markets, it seems like the way to go. 

Btw.  You and debtor Dave completely missed the point. Again. 

9 minutes ago, revkevsdi said:

Pretty much. But when you know you’ll need the money on short notice and don’t trust the markets, it seems like the way to go. 

Btw.  You and debtor Dave completely missed the point. Again. 

Oh we get your point.

14 hours ago, ArcticCrusher said:

Gic is pretty much interest free for 365 days.  

Gic is fucking useless. May as well put in a savings account at .25%  at least u can get to it.

 

7 hours ago, revkevsdi said:

Pretty much. But when you know you’ll need the money on short notice and don’t trust the markets, it seems like the way to go. 

Btw.  You and debtor Dave completely missed the point. Again. 

So non cashable gic's are the long term plan?

7 hours ago, awful knawful said:

Gic is fucking useless. May as well put in a savings account at .25%  at least u can get to it.

 

EQBank gives you 2.3% for savings account.

8 hours ago, ArcticCrusher said:

So non cashable gic's are the long term plan?

Wow! You don't understand anything. Maybe you should talk with Dave. 

Fact of the matter is, people who are living debt free are happiest, no ifs and or buts about it. Debt free=happiness=freedom=hapinesss=debtfree.

it took me many life lessons to wrap this around my skull. But it finally sank in. Once you start living like a bad ass, you don't look back. You live happy

5 hours ago, Jet said:

Fact of the matter is, people who are living debt free are happiest, no ifs and or buts about it. Debt free=happiness=freedom=hapinesss=debtfree.

it took me many life lessons to wrap this around my skull. But it finally sank in. Once you start living like a bad ass, you don't look back. You live happy

You are right. The day I paid the house off was like winning the lottery.

Same with new garage, cars, atv. I buy 1 thing at a time, pay it off and move on to something else. 

Debt free right now. Next is pave the driveway and new sled coming November. 

Nice when check goes in and nothing comes out. Account grows fast! 

7 hours ago, revkevsdi said:

Wow! You don't understand anything. Maybe you should talk with Dave. 

What a fountain of misinformation.

13 minutes ago, awful knawful said:

You are right. The day I paid the house off was like winning the lottery.

Same with new garage, cars, atv. I buy 1 thing at a time, pay it off and move on to something else. 

Debt free right now. Next is pave the driveway and new sled coming November. 

Nice when check goes in and nothing comes out. Account grows fast! 

That's nice but not as sweet as investment growth outpacing anything you put in.

17 minutes ago, ArcticCrusher said:

That's nice but not as sweet as investment growth outpacing anything you put in.

I've been putting $350/ month for 20 years in retirement savings.

 

 

On 4/3/2018 at 6:20 PM, steve from amherst said:

Would you prefer the economy goes stagnant to keep the rate lower?

Yes. Inflation stops economies as well....in their tracks.

Ill take mild inflation over stagnation.

2 minutes ago, steve from amherst said:

Ill take mild inflation over stagnation.

You can’t order it the way you want Steve....lol

the last time we saw inflation it was not pretty.

10 minutes ago, awful knawful said:

I've been putting $350/ month for 20 years in retirement savings.

 

 

You think that's good?  Its better than nothing, hope you have a pension or its invested wisely.

That is great. I have a company pension 7% matched.

 

42 minutes ago, awful knawful said:

I've been putting $350/ month for 20 years in retirement savings.

 

 

Thats only 84g...has it grown at all?